Reference are made to the announcements dated 1 November 2018, 29 November 2018, 31 December 2018, 31 January 2019, 28 February 2019, 29 March 2019 and 30 April 2019.

The Board of Directors’ of Maxwell International Holdings Berhad (“MAXWELL” or “the Company”) hereby announces that the Company is unable to release its Unaudited Quarterly Report on Consolidated Results for the quarter ended 31 March 2019 (“Unaudited First Quarterly Report 2019”) by 31 May 2019 which is within a period not exceeding two (2) months from the close of the financial quarter ended 31 March 2019 (“Timeframe”) as required under Paragraph 9.22(1) of the MMLR.

The Company is also still unable to submit to Bursa Malaysia Securities Berhad ("Bursa Securities") the Unaudited Quarterly Reports on Consolidated Results for the quarter ended 30 September 2018 (“Unaudited Third Quarterly Report 2018”) and quarter ended 31 December 2018 (“Unaudited Fourth Quarterly Report 2018”), (collectively hereinafter referred to as “Outstanding Financial Statements/Unaudited Third & Fourth Quarterly Reports”).

The delay in the release/submission of the Unaudited First Quarterly Report 2019 and Outstanding Financial Statements/ Unaudited Third & Fourth Quarterly Reports is due to the difficulty faced by the Company in appointing a replacement chief financial officer to prepare the Unaudited First Quarterly Report 2019 and Outstanding Financial Statements/ Unaudited Third & Fourth Quarterly Reports as the Company is still experiencing cash flow problems.

The Management has sought potential investors to secure funding for the Company.

Pursuant to Paragraph 9.28(5) of the MMLR, if MAXWELL fails to announce its Unaudited First Quarterly Report 2019 within 5 market days from the expiry of the Timeframe, i.e. 31 May 2019 (the last day of this 5 market days shall hereinafter be referred to as "the Suspension Deadline"), in addition to any enforcement action that Bursa Securities may take, Bursa Securities shall suspend trading in the securities of MAXWELL.

The suspension shall be effected on the market day following the expiry of the Suspension Deadline and shall be uplifted on the market day following the announcement of the Unaudited First Quarterly Report 2019 unless otherwise determined by Bursa Securities. The Company's securities have been suspended from trading since 10 May 2018.

Pursuant to Paragraph 9.28(6) of the MMLR, if MAXWELL fails to issue the Outstanding Financial Statements within 6 months from the expiry of the Timeframe, in addition to any enforcement action that Bursa Securities may take, de-listing procedures shall be commenced against MAXWELL.

MAXWELL will announce the Outstanding Financial Statements to Bursa Securities as soon as practically possible and within 3 months from the appointment of a new chief financial officer.

This announcement is dated 31 May 2019.